On September 30, 2018, Master Bank loaned $1,250,000 to Grahm Construction, Inc., on a one-year, 9 percent note. Read the requirements Requirement 1. Compute the interest on the note for the years ended December 31, 2018, and December 31 2019. Round interest calculations to the nearest dollar. Start by determining the formula needed to compute interest. = Amount of interest Now determine interest for the years ended December 31, 2018 and 2019, on the Grahm Construction note. Interest for 2018: Interest for 2019: Requirement 2. Which party has a. a note receivable: b. a note payable: c. Interest revenue: d. interest expense: Requirement 3. How much in total would GrahmConstruction, Inc., pay the bank if it pays off the note early on April 30, 20197 Total amount paid would be: rement 1. Compute the interest on the note for the years ended December 31, 20- by determining the formula needed to compute interest. x x 2018 and 2019, on the Grahm st for 2018: t for 2019: etermine interest for the y Interest rate Interest receivable Interest revenue Maturity value mement 2. Which party ha note receivable: Time note payable: Years Principal erest revenue: rest expense: ment 3. How much in total would GrahmConstruction, Inc., pay the bank if it pays off t ount paid would be: mon, me., on ac Requirement 1. Compute the interest on the note for the years ended December 31, 2018, and Start by determining the formula needed to compute interest. Now determine interest for the years ended December 31, 2018 and 2019, on the Grahm Construc Interest for 2018: Interest for 2019: Requirement 2. Which party has 1. a note receivable: a note payable: interest revenue: interest expense: Grahm Construction Master Bank uirement 3. How much in total would GrahmConstruction, Inc., pay the bank if it pays off the note early amount paid would be